Sirius, XM stockholders OK merger

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As expected, Sirius and XM stockholders overwhelmingly approved a merger of the two satellite radio companies Nov. 13, pending approval from federal regulators.

The Federal Communications Commission and the U.S. Department of Justice, both of which must approve the merger, have not announced their decisions.

Opposing the merger are the local radio and TV stations represented by the National Association of Broadcasters, one of Washington’s most powerful lobbies.

If approved, the merged company plans to allow users to select channels a la carte. One option would let subscribers choose 50 channels for $6.99 a month.

Preliminary figures indicated the transaction was approved by more than 96 percent of Sirius stockholders and 98 percent of XM stockholders.

The companies’ websites in favor of the merger are www.siriusmerger.com and www.xmmerger.com. The broadcasters’ website against the merger is www.xmsiriusmonopoly.org.